China's Top Leaders to Convene Emergency Meeting to Counter US Tariffs and Stabilize Markets

As a countermeasure to the growing trade tensions with the U.S., the highest leadership of China will convene an urgent meeting as early as Wednesday to discuss sweeping measures to support the economy and stabilize the capital markets. The emergency session will see top officials from major institutions such as the State Council, the central bank, and the Ministry of Finance.

 

Economic Countermeasures: The session will be centered on coming up with measures to counter the effects of U.S. tariffs on China's economy. This involves speeding up domestic consumption and using fiscal policies to stimulate growth.

 

Market Stabilization: Stabilizing the capital markets will be a priority, given recent steep falls in Chinese equities as a result of trade tensions. State-owned companies have already committed to raising share buying to stabilize market volatility.

 

Policy Elasticity: The policymakers in China have highlighted their willingness to bring in further stimulus measures as required to meet the nation's growth targets, which have been put under pressure by global trade headwinds.

 

International Trade Ramifications: The current trade war between China and the U.S. continues to destabilize global markets, with both countries imposing heavy tariffs on products from each other. China's prompt reaction and savvy economic planning are pivotal in resolving these pressures.

 

This discussion highlights China's active role in managing economic risks and maintaining market stability in the face of international trade uncertainties.

 

Source: Reuters, Bloomberg, China Daily